Dreaming of studying abroad but hesitating because of the cost? No need! You can get funding to study abroad. Depending on your nationality, residency, needs, achievements, and/or field of study, you can seek funding for your studies abroad. This includes student loans, grants, and scholarships.
A student loan is exactly what it sounds like: a loan for students. This is borrowed money to help cover costs during your studies – in your home county and as a study abroad student. Student loans are available to most students and come with an interest rate. The loan needs to be paid back once you have graduated, but you often get a grace period which is usually 6 months after graduation. The payment plans are often generous, with several years to repay. You can get a student loan from government-supported programs as well as private lenders. Government-supported programs often have lower interest rates.
Grants are another form of financial aid but differ from student loans since you don’t have to pay them back. Grants are not loans; they are a gift of money based on financial need or specific criteria. They can be need-based or merit-based. Since grants are based on various needs, you must apply for them. In the application, you need to submit documents supporting your request, which can include income documentation if you apply for a need-based grant.
Scholarships are financial support and are more similar to a grant than a loan. You do not need to pay back a scholarship. Scholarships have specific criteria. You can get them based on academic, athletic, demographic, destination country, or field of study achievements. Scholarships can be renewable or one-time awards.
Some scholarships, like academic ones, are sometimes automatically awarded to students by the admissions office, while others require a separate application. In the applications, you may need to include a scholarship essay, recommendation letter, or attend interviews.
Read more on our Study Abroad Scholarships page to get more info about scholarships.
There are different kinds of funding to study abroad. The difference between a student loan, a grant and a scholarship can be summarized by:
Many governments offer funding for studying abroad through loans, grants, or scholarships. Some programs target specific fields or require students to return home after graduation. Check with your country’s Student Finance Agency.
Agency: Studienbeihilfe (Study Grant Authority)
Support: Grants, mobility allowances
Abroad Coverage: Yes, within the EU and approved programs abroad
Agency: Wallonia-Brussels Federation / Flemish Government
Support: Need-based grants, mobility aid
Abroad Coverage: Yes, for study within the EU and recognized programs abroad
Agency: ICETEX
Support: Loans, scholarships, living stipends
Abroad Coverage: Yes, for approved international degree programs
Agency: Agency for Mobility and EU Programmes
Support: EU-funded programs (e.g., Erasmus+, CEEPUS)
Abroad Coverage: Yes, for short-term mobility and full study abroad
Agency: Ministry of Education / House of International Services
Support: Scholarships, Erasmus+ grants
Abroad Coverage: Yes, for exchange and full programs in eligible institutions
Agency: Kela (Social Insurance Institution of Finland)
Support: Study grants, housing supplement, government-backed loans
Abroad Coverage: Yes, for full-time study abroad in eligible programs
Agency: CROUS / Campus France
Support: Need-based grants, mobility scholarships
Abroad Coverage: Yes, for approved exchange or degree programs abroad
Agency: BAföG (Federal Training Assistance Act)
Support: Grants and interest-free loans
Abroad Coverage: Yes, after one year of domestic study
Agency: DSU / Regional scholarship agencies (e.g., LazioDisco)
Support: Grants, housing, food subsidies
Abroad Coverage: Yes, especially when part of Italian university programs
Agency: CONACYT / AMEXCID
Support: Postgraduate scholarships, research funding
Abroad Coverage: Yes, mainly for graduate and research studies abroad
Agency: DUO (Dienst Uitvoering Onderwijs)
Support: Student loans, supplementary grants
Abroad Coverage: Yes, for EU/EEA institutions and select global programs
Agency: Lånekassen
Support: Grants and loans
Abroad Coverage: Yes, generous support for full study programs abroad
Agency: NAWA (Polish National Agency for Academic Exchange)
Support: Scholarships, exchange program funding
Abroad Coverage: Yes, especially via Erasmus+ and bilateral agreements
Agency: CSN (Centrala studiestödsnämnden)
Support: Grants and loans
Abroad Coverage: Yes, for full programs or exchanges at approved schools
Agency: Federal Student Aid (FAFSA)
Support: Grants, federal loans, work-study
Abroad Coverage: Yes, for accredited foreign institutions approved by the U.S. Department of Education
Student Loans:
Apply through your country’s student finance agency (for government-supported loans) or directly with lenders (for private loans). Government loans typically require proof of enrollment, residency, and sometimes financial documentation. Private loans often require a credit check and a co-signer. Apply 3–6 months before your program starts to allow enough processing time.
Grants:
Grants are typically need-based and may be offered by government agencies, universities, or international programs like Erasmus+. Applications usually require financial documents such as income statements and tax returns. Some grant programs use the same system as student loans, while others are separate. Apply early, as funds are limited and often awarded on a first-come, first-served basis.
Scholarships:
Scholarships can be awarded based on academic merit, leadership, athletic ability, specific fields of study, or destination country. Many universities and external organizations offer scholarships specifically for international students. Applications often require transcripts, essays, letters of recommendation, and proof of eligibility. Some may also require interviews or portfolios. Start preparing 12–18 months in advance, as deadlines can be up to a year before your study abroad program begins.
With years of experience helping international students just like you, we at Beyond Abroad are here to help.
